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Kuwait – new sectors open to foreign investment, new tax treaties

Kuwait – new sectors open to foreign investment

KPMG in Kuwait discusses new rules that open certain sectors of Kuwait’s economy to foreign direct investment. The Tax and Corporate Services department in KPMG in Kuwait is working closely with the KDIPA in support of their initiatives to attract international investors. Below, KPMG in Kuwait also summarizes the country’s 10 most recently effective tax treaties.

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Foreign direct investment applications in Kuwait

In December 2014, the Kuwait Direct Investment Promotion Authority (KDIPA)issued regulations1 to govern its new foreign direct investment law, but, until now, details on the application process were not available. Kuwait’s Council of Ministers recently agreed on a ‘negative list’ that excludes 10 sectors of the economy from laws allowing 100 per cent foreign ownership in Kuwait.